Newsletter Q4, 2012

Welcome to the first edition of the ITS Trading Workstation Newsletter which will be published every quarter by ITS & ITS online. This newsletter is intended to let our workstation users know about new features available to them as well as provide some answers to some Frequently Asked Questions.

Please feel free to call our Operations Team at at any time if you have any questions about our services. support@itsys.ca OR 416-233-3961x0 1-855-233-3961x0

New features Available in ITS TraderLite / TraderLite GUI

Baskets Trading

ITS Trading Workstations are now enabled for basket order entry. Users can create "baskets" using MS-Excel with multiple buy and sell orders. These Excel spreadsheets can be imported into the ITS Trading workstations to execute the basket.

Baskets are automatically checked for soft limits as well as overall basket value and volume in order to try to prevent errors.

Split Orders
Traders can now split the volume of a single order between various marketplaces. Once entered a random volume amount is assigned and these orders are managed by the regular outstanding order display.

The ITS SOR will protect all orders generated against any possible book and/or trade through violations.

Orders that get split : Buy, Sell, Short or Short exempt, Anonymous

Splitting is limited to day orders

Enhanced Ticker Options

The ticker screen on the ITS Trading Workstations now has multiple options to create the most useful ticker for each trader.

RT Participation

Market Makers can now define volume limits for RT Participation.

Market Replay

Market Replay is available for ITS Trading Workstations for an additional fee. This screen allows traders and supervisors to step through the market activity on a symbol across all visible Canadian markets.

Other Functionality Enhancements

In addition to the features described above, the ITS Trading workstations have been upgraded with the following functionality that has been described in other ITS announcements. Please feel free to contact us if you need more information about any of the following enhancements.

Charting

NetHouse Summary Capability

Short Marking Exempt (SME) tag functionality

Market on Close (MOC) Imbalance performance enhancements

Trading Workstations FAQ

Our operations team has compiled a list of their most frequently asked questions and provided the answers here. Please feel free to call our operations & support team at 416-233-3961x0 if you need more information about any of these answers.

ENTERING ORDERS

Q: How do I enter a pegged order to the CHI-X market?
CHI-X supports three pegging types.
<CTRL>G to select the peg types “PEG-MKT”, “PEG-MID” or “PEG-PRI”

1. PEG-MKT (Peg Type “R” on the EDIT response)

UY VOL-100 SYM-ABX PEG-MKT-0.01 <SPACE> PRI-40.00

BUY VOL-100 SYM-ABX PEG-MKT-0.01 <SPACE> PRI-40.00 DARK

Note the PEG OFFSET “0.01” is the increments it will change to stay at the top of the market until
you’re limit price is reached. Adding <shift>D to the order will make it not visible in the market
depth

2. PEG-MID (Peg Type “M” on the EDIT response)

BUY VOL-100 SYM-ABX PEG-MID-<SPACE> PRI-40.00

BUY VOL-100 SYM-ABX PEG-MID-<SPACE> PRI-40.00 DARK

>Note: Adding <SHIFT>D to the order will make it not visible in the market depth

3. PEG-PRI (Peg Type “P” on the EDIT response)

BUY VOL-100 SYM-ABX PEG-PRI-<SPACE> PRI-40.00

BUY VOL-100 SYM-ABX PEG-PRI-<SPACE> PRI-40.00 DARK

Note: Adding <SHIFT>D to the order will make it not visible in the market depth.

Q: How do I enter a pegged order to the TSX market?
TSX supports one pegging type and is always dark. You must include the exchange –T after the symbol.

1. PEG-MID (Peg Type "M" on the EDIT response)

BUY VOL-100 SYM-ABX-T PEG-MID-<SPACE> PRI-40.00 DARK

Q: How do I enter an order on the Alpha Inter-spread Market?
Alpha supports one pegging type and is always dark. It will only trade against retail orders.

1. PEG-PRI (Peg Type "P" on the EDIT response)

BUY VOL-100 SYM-ABX-A PEG-PRI-50 PRI-40.00 DARK

Note: You must include the exchange –A after the symbol. Only accepted offset is 0 or 50.

Q: How do i enter an order in to the Dark Market?
Type in your order as you normally would and then add <SHIFT>D before pressing enter to send to the Dark Market.

Q: I attempt to join an offer but a Smart Cross window appeared what’s with that?
This is a sticky <ALT> key problem. Just bang on the alt keys a couple of times and try to double click again.

Q: How do I change a single order to have an account type of IN, CL or RT?
During the order entry press <CTRL>I for IN, <INSERT > for CL or <CTRL>R for RT.

VIEWING MY ORDERS

Q: How do I see my outstanding MOC order?
Hold the <SHIFT> key and double-click on the symbol OR you may use the keystroke <symbol> <F8> then press <SHIFT> <F7>.

Q: How to I look up my outstanding orders?
Double click the symbol OR enter <symbol>< F8>.

Q: How do I look up my ON-stop Outstanding Orders?
There are three ways:

Hold down the <CTRL> key and double click on the symbol.

Type symbol<F8> and then press <SHIFT>F12.

Or bring up the ALERTS display by clicking on the word ONSTOP where the ITS logo is displayed. Or clicking the <ALT> button in the top right of the display. Then click on the ON STOP tab.

Q: I want to display my outstanding Boardlot orders but when I double click the symbol I am getting outstanding Oddlot.
This is a sticky <ALT> keys problem. Just bang on the <ALT> keys a couple of times and try to double click again.

Q: I want to display my outstanding Boardlot orders but I am getting outstanding OnStop instead.
This is a Sticky <CTRL> keys problem. Just bang on the <CTRL> keys and this should solve the problem.

Q: How do I check previous trades from a previous day?
YT<symbol> # <send> where # = 1,2, 3, 4, 5 days ago.

Q: How do I check my fills from a previous day?
Go to the adv profit and loss screen, In the message window, right click, and select Open Trades folder. When the folder opens, you can pick the .csv file of the date you wish to look at. The file only logs trades when you are logged into the Workstation.

RT FUNCTIONALITY

Q: How do I set volume participation limit?
Right click in the market dept window where it shows the / on the market depth window and it will bring up a window where you can set the participation limit.

Q: How do I turn off the RT spread goal alerts?
Go to preferences >> Options >> general Tab >> Message Panel >> RT Alerts > In the drop down menu choose Suppress.

HOW DOES THE WORKSTATION ROUTE MY ORDERS?

Q: I put in a Day order - is it going to be cancelled if it is not filled?
Yes, it will be cancelled, TSE Cancels all day orders in their over night process.

Q: If I send an order as short exempt, will the SOR send it to every destination as short exempt?
Yes, no tags are removed and every market will accept the exempt tag until March 31, 2013.

Q: When my order is split among the marketplaces can I combine CFO it?
When an order is split it creates a new order in each market place, so if you wanted to CFO the entire volume you would have to go through each order and cancel or CFO individually.

Q: How does the SOR work mixed lot orders?
The odd lot volume is first removed, and the board lot order is worked with any visible liquidity in the market places. After all liquidity is taken out of the market the odd lot is appended back and the volume is booked to the default exchange. The exchange engine will treat it according to their rules. NOTE: oddlot orders are not smart routable.

WORKSTATION SETTINGS

Q: How do I get a Market depth window that is bigger than the ordinary?
Add a comma “,” at the end of any command where you’d like more information provided. Hit the <ESC> key to clear the response.

Q: How do I change the number of market depth screens on my application?
Go to Preferences >> options >> General Tab >> Market Depth tab. Choose Number of Panels from the menu. Remember to restart the application as it loads those panels during the login process.

Q: Can I get US quotes?
Yes, but there are additional market data fees. There is existing order execution to the U.S. via ITG Canada or a connection can be established elsewhere if so desired. Please contact ITS Operations & Support if you are interested in these options.

Q: My market depth window has combined 3 screens into one, how do i get it back to the original setting?
Simply enter a <sym> and press <ENTER> or press the ESC key.

Q: The last column on my stockwatch is not displaying the change.
Using the ~ button on your key board you can change the last column in the stock watch to display, net Change, last price, total volume and percentage change.